Cryptocurrency as a Slice in Investment Portfolio: Identifying Critical Antecedents and Building Taxonomy for Emerging Economy

IF 2.5 Q2 ECONOMICS
Sridhar Manohar
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Abstract

Identifying investment opportunities with high returns is crucial for individuals seeking to generate wealth and accumulate assets. The cryptocurrency market exhibits high volatility and significant price variations compared to the stock market, suggesting that price movements may be influenced by additional factors. Identifying and categorizing these factors helps in making precise forecasts about the increase in investors’ asset. Thus, this study aims to investigate the primary elements influencing cryptocurrency’s’ market performance. The qualitative approach included a literature review, sentimental analysis and in-depth interviews with investors. Non-probability sampling techniques were adopted in identifying the prospective respondents for in-depth interviews. Additionally, the bibliometric analysis helped in the collection of appropriate literature for a systematic literature review. A taxonomy was built, combining all codes received with the help of experts. Distinct determinants were identified and categorized as internal and external factors, which were then further subdivided. Internal variables include fear of missing out, money accumulation, flexibility, and understanding of patterns. External factors such as technological progress, community involvement, airdrops/roadmap, news/speculations, and government laws also have a role. Understanding the determinants helps investors and traders gain appropriate knowledge on investments and profit-making, thereby yielding wealth that could provide financial freedom and a better lifestyle. This study is novel because exploring, understanding, and predicting the cryptocurrency market is one of the latest and most widely spoken topics among researchers in the finance domain. Earlier studies have not emphasized empirically the concepts, strategies and factors impacting price fluctuations and investment behavior in the crypto market.

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加密货币作为投资组合的一部分:确定关键前因并为新兴经济体建立分类标准
对于寻求创造财富和积累资产的个人来说,识别高回报的投资机会至关重要。与股票市场相比,加密货币市场呈现出高波动性和显著的价格变化,这表明价格变动可能受到其他因素的影响。对这些因素进行识别和分类有助于对投资者资产的增长做出精确预测。因此,本研究旨在调查影响加密货币市场表现的主要因素。定性研究方法包括文献综述、情感分析和对投资者的深入访谈。在确定深度访谈的潜在受访者时,采用了非概率抽样技术。此外,文献计量分析有助于收集适当的文献资料,以便进行系统的文献综述。在专家的帮助下,对所有收到的代码进行了分类。确定了不同的决定因素,并将其归类为内部和外部因素,然后进一步细分。内部变量包括害怕错过、资金积累、灵活性和对模式的理解。技术进步、社区参与、空投/路线图、新闻/猜测和政府法律等外部因素也有一定作用。了解这些决定因素有助于投资者和交易者获得适当的投资和获利知识,从而获得财富,实现财务自由和更好的生活方式。这项研究具有新颖性,因为探索、理解和预测加密货币市场是金融领域研究人员最新和最广泛谈论的话题之一。此前的研究并未从实证角度强调影响加密货币市场价格波动和投资行为的概念、策略和因素。
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来源期刊
CiteScore
3.00
自引率
0.00%
发文量
34
期刊介绍: The current remarkable growth in the Asia-Pacific financial markets is certain to continue. These markets are expected to play a further important role in the world capital markets for investment and risk management. In accordance with this development, Asia-Pacific Financial Markets (formerly Financial Engineering and the Japanese Markets), the official journal of the Japanese Association of Financial Econometrics and Engineering (JAFEE), is expected to provide an international forum for researchers and practitioners in academia, industry, and government, who engage in empirical and/or theoretical research into the financial markets. We invite submission of quality papers on all aspects of finance and financial engineering. Here we interpret the term ''financial engineering'' broadly enough to cover such topics as financial time series, portfolio analysis, global asset allocation, trading strategy for investment, optimization methods, macro monetary economic analysis and pricing models for various financial assets including derivatives We stress that purely theoretical papers, as well as empirical studies that use Asia-Pacific market data, are welcome. Officially cited as: Asia-Pac Financ Markets
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